LS Marine Solution Achieves Record-High First Half Results... Sales and Operating Profit More Than Double Year-on-Year

Sales Reach 111.5 Billion KRW, Operating Profit at 6.4 Billion KRW
Offshore Wind Construction and LS Buildwin Boost Performance
"Submarine Cable Projects to Sustain Growth in Second Half"

LS Marine Solution, a company specializing in submarine cable construction, achieved its highest-ever performance for the first half of a year since its founding, based on results from the first half of 2025.

On July 22, LS Marine Solution announced that, on a consolidated basis, it recorded sales of 111.5 billion KRW, operating profit of 6.4 billion KRW, and net profit of 4.1 billion KRW in the first half of this year.

Compared to the same period last year (sales of 52 billion KRW), this represents an increase of approximately 114% in sales, approximately 107% in operating profit, and approximately 8% in net profit, marking the highest semi-annual results in the company's history.

LS Marine Solution stated, "The main factors behind the strong performance were the construction of the Jeonnam Offshore Wind Farm Phase 1 (96MW) and the inclusion of LS Buildwin, which became a subsidiary at the end of 2024, in the consolidated results." The company added, "Key projects are also scheduled for the second half of the year, including submarine cable installation for the Taiwan Power Company offshore wind farm and the installation of submarine defense acoustic detection sensors, so the performance momentum is expected to continue."

Submarine Cable Laying Vessel GL2030. LS Marine Solution.

The order backlog is also expanding rapidly. LS Marine Solution currently holds an order backlog of approximately 650 billion KRW on a consolidated basis, including a recent contract for the Anma Offshore Wind Farm submarine cable project. This is about five times the annual sales for 2024 (130.3 billion KRW) and is expected to drive mid- to long-term performance growth.

In addition, the company has been designated as the preferred negotiation partner for several large-scale offshore wind projects, including Taean, Haesong, and Shinan-Ui, raising expectations for future conversion to large-scale contracts. Industry sources estimate that securing both internal and external network construction for a single 400-500MW class offshore wind farm could generate average sales of 200 to 300 billion KRW.

LS Marine Solution stated, "Now that the offshore wind power market is truly opening up, this is a decisive opportunity for infrastructure companies," adding, "We will proactively expand our presence and deliver clear achievements in both growth potential and performance."

This content was produced with the assistance of AI translation services.